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December 3, 2008

Workers' comp premiums rising 3%

By JOURNAL STAFF

TUMWATER — The state Department of Labor and Industries next year will raise premiums for workers' compensation insurance an average of 3 percent.

An L&I press release states that insurance actuary calculations indicated the need for a 6.3 percent premium increase, generating $119 million. Instead, the decision to implement a 3 percent increase will generate $57 million, with the contingency reserve absorbing the remaining $62 million.


 
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